Dallas � February 28, 2006 �Successfully completing an 18-month consulting agreement to help reorganize operations and strengthen its security positioning, Tod Fitzpatrick has stepped down as President of ASSA ABLOY Hospitality North America. Effective immediately, global security expert Marc Freundlich will assume the post, spearheading operations in the United States and Canada and carrying on the momentum for security brands VingCard Elsafe® and TimeLox®. �We�d like to thank Tod Fitzpatrick for a job well done,� said Tim Shea, President and CEO of ASSA ABLOY Hospitality worldwide. �Tod was influential in selecting his successor, and plans to work with Marc through the transition. We are grateful for his vision, dedication and success.�
�Marc�s appointment comes at a critical time for hospitality,� Shea said. �By tapping his expertise in business management, customer service, and extensive knowledge of the electronic security and communications market, our customers will stay one step ahead in security technology, while our brands remain focused on customer service and performance. I have every confidence that Marc�s focused approach to sustained growth and his proven track record of success will keep VingCard Elsafe® and TimeLox® in leadership positions within the global security market. Strong Background leads to Secure Future Freundlich said he is honored to have the opportunity to lead such well respected brands in the hospitality industry. �As customer�s needs change, we need to change accordingly,� Freundlich said. �I plan to continue the company�s �We�re Listening� initiative, and to implement strategies focused upon customer service, product innovation, and operational excellence. For example, our newest product, the Signature series was designed for properties that require effective security and minimal door hardware which blends into any hotel environment. By all reports, customers are very excited about the new look and functionality of the Signature series. Each of our brands will introduce significant new and innovative products this year.� 2005 was a very successful year for ASSA ABLOY Hospitality�s security brands in North America. A substantial increase in sales for VingCard�s electronic locks came from new construction properties across North America; Elsafe achieved significant growth from in-room safe upgrades throughout corporate-owned and franchised properties; and TimeLox continued to grow steadily in the casino market while also making in-roads in the timeshare and condo hotels markets. �Our goal is to always be the first choice in hotel security,� Freundlich said. About ASSA ABLOY Hospitality Inc. North America The world leader in hotel security technology, ASSA ABLOY Hospitality has products installed in more than 33,000 properties worldwide, securing in excess of 5.5 million hotel rooms. The ASSA ABLOY Group, a publicly listed company, is a world leader in security and hospitality systems. The North American division of ASSA ABLOY Hospitality brings three security brands to hotels throughout the United States and Canada: VingCard provides numerous electronic locking system solutions, including traditional magnetic-stripe and smartcard systems, fully integrated PMS interface software solutions and worldwide service and support. Elsafe provides the first UL-listed (1037) hotel safe series on the market today in keypad and card-based models. Safes that include an internal power outlet to support recharging of laptops and camcorders also are available with a UL listing. Elsafe customers also enjoy the same worldwide service and support. TimeLox specializes in meeting the unique security needs of gaming properties and other large resorts. It has become an industry leader in smart card and infrared locking technology, as well as the integration of locks with other systems, such as Property Management Systems (PMS), Point-of-Sales Systems (POS) and Player Tracking Systems. The ASSA ABLOY Hospitality Group is dedicated to the hospitality industry. For more information on VingCard Elsafe, visit www.vingcard.com or www.elsafe.com. For more information on TimeLox, visit www.timelox.com. |
Freundlich
brings nearly 20 years of global experience in international security business
management to ASSA ABLOY Hospitality, Inc. Most recently, he served as
President and CEO of Indala Corporation, an ASSA ABLOY Identification Technology
Group (ITG) company. Mr. Freundlich also served on the executive management
team of ITG which included companies such as HID Corp, AccessID, Synercard,
Omnikey and others. ITG companies represent the world�s largest supplier
of radio-frequency identification (RFID) devices to the security industry,
including: proximity, contact and contactless smart cards and associated
reader devices. During his tenure at Indala, the business contributed outstanding
growth in profitability to Assa Abloy ITG, and has become a major contributor
to the overall success of the group.